News

Improved air quality has come at a cost for China

Financial Data which emerged from China last week has highlighted the continuing downward pressure facing the major Asian economy. China's industrial output rose 7.7% in October from a year ago, while retail sales grew 11.5% in the same period. Economists predicted a growth of 8% and 11.6% respectively.


Chinese enterprises invest in overseas mergers and acquisitions

Chinese enterprises finalised a record 176 mergers and acquisitions (M&A) overseas in the first nine months of 2014, an increase of 31% since last year, according to a report released by accounting firm PwC last week.


China commences direct trading between renminbi and Singapore dollar

Last week China’s Foreign Exchange Trading System (CFETS) announced direct trading between the renminbi and Singapore dollar, marking another step toward internationalising the Chinese currency. The move is also expected to help Singapore become a renminbi offshore centre.


Asian finance ministers sign a Memorandum of Understanding for the AIIB

Twenty-two Asian countries officially signed a Memorandum of Understanding to establish the Asian Infrastructure Investment Bank (AIIB). It will start operations in 2015 with its centre of operations in Beijing, and the plans for the new bank will be to fund the construction of roads, railways, power plants and telecommunications networks in Asia.


China contributes greatly to global economy

The Chinese economy is a vital player in global landscape and its rapid growth is a huge motor for global expansion, according to a senior economist with the World Trade Organisation (WTO).


Banks in Hong Kong shut branches after 2 day long protests

A civil disobedience movement launched by Hong Kong based democracy activists, known as Occupy Central has been promising protests for months if Beijing's electoral reform did not adequately adjust the current legislation. They are campaigning for the Chinese government to grant full democratic powers to the former British colony.


China ranked top destination for regional expansion in Asia

The UOB has conducted the Asian Enterprise Survey of 2014 and findings show that China is top for business expansion in Asia but Singapore isn't far behind